Luby’s Calls Hedge Fund’s Nominees Unqualified as Contest Heats up

(Reuters) Luby’s Inc on Tuesday hit back at criticisms from a long-time investor that wants to shake up the casual dining chain’s board by questioning the qualifications of the hedge fund’s director nominees. The Texas-based restaurant company, which owns hamburger chain Fuddruckers and has a market capitalization of $39 million, said that Bandera Partners, which is running a proxy contest, has proposed unqualified nominees who have no business being elected to a public company’s board.